JWF notes that it appears the WH is trying to derail the economy. For sure this will hurt the domestic coal industry and raise electric prices (at a minimum). Yet there are a few people who are going to make a lot of money on these carbon regulations–and they are mostly Obama supporters.
As Wombat notes, not all Obama supporters are going to benefit from this. With elections in play, Megan McArdle thinks the WH is blowing smoke over this, with rule making dragging pass November 2016.
Oh well, you have to break a few eggs to make an Obam-lette.The WH is increasingly desperate to change the narrative from its failures.